Global Food Prices and Business Cycle Dynamics in an Emerging Market
IWH Discussion Paper 15/2015
Posted: 20 Jul 2017
Date Written: 2015
Abstract
This paper investigates a perception in the political debates as to what extent poor countries are affected by price movements in the global commodity markets. To test this perception, we use the case of India to establish in a standard SVAR model that global food prices influence aggregate prices and food prices in India. To further analyze these empirical results, we specify a small open economy New-Keynesian model including oil and food prices and estimate it using observed data over the period from 1996Q2 to 2013Q2 by applying Bayesian estimation techniques.
Suggested Citation: Suggested Citation
Holtemöller, Oliver and Mallick, Sushanta and Mallick, Sushanta, Global Food Prices and Business Cycle Dynamics in an Emerging Market (2015). IWH Discussion Paper 15/2015, Available at SSRN: https://ssrn.com/abstract=3004425
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